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as negotiations continue over the fiscal cliff. host: our series on the fiscal cliff continues this morning with a dive into social security. here to talk about the program and how it is involved in the discussions and the negotiations over america's financial future, is stephen ohlemacher, joining us from the associated press, where he is a reporter. thank you for being here. guest: thank you. host: how many people in america receive social security? guest: a little bit more than 56 million people get social security. the average benefit is a little over $1,200 a month. so maybe it is like $13,000, $14,000 a year. host: we're talking about retirees but also the disabled. guest: yes, fairly wide group of people get social security benefits, retired workers, spouses, children, disabled workers, widows, widowers. it is a fairly big social safety net of people who get social security benefits. host: as you mentioned about 56 million the retirees received a $1,2 a month. there is also the s.s.i. about $500 a month. how does social security get financed? guest: it has been a self funded program.
at 2:00 p.m. eastern. no legislative work is expected. we have an update on fiscal cliff negotiations this morning on "washington journal." guest: this is a recession between christmas and new year's. i do not know. maybe they should finish their work. you will see some push in the next few days to get a small deal done. viewers are fan of the process. anything that gets done needs to be done quickly before new year's to be signed into law. today is the 27. and so you have a few days left for lawmakers to make a deal. the president's should land at some point. there is a 5 hour time difference. they have to figure out something. it seems likely will go over the cliff. it has been looking like that before the holiday, but certainly now, particularly if you remember for congress broke for the christmas break, speaker raynor was not able to get the backup plan through his caucus, so there was no pressure on democrats to try to counter that immediately. senate democrats saying we passed a bill that raises tax rates on incomes over $250,000, we ran on this and this is what we are offering.
this morning with comments on the situation, and we will hear what he had to say about the fiscal cliff now. : new year's eve is fast approaching and for decades and decades the american people have watched the ball drop in times square. it's the countdown to midnight, the start of a new year. but this year, mr. president, the american people are waiting for the ball to drop but it's not going to be a good drop. because americans' taxes are approaching the wrong direction. come the first of this year, americans will have less income than they have today. if we go over the cliff, and it looks like that's where we're headed, mr. president, the house of representatives as we speak with four days left after today before the first of the year aren't here with the speaker having told them they'll give them 48 hours' notice. i can't imagine their consciences. they're out wherever they are, around the country, and we're here trying to get something done. they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to
:00, president obama will meet with congressional leaders, for more discussion on the fiscal cliff. rhonda, from california. caller: good morning, everybody. i am just really upset. the gop has taken over our congress, they have held it since the president was in. they have destroyed main street. they have taken our jobs. they have taken our houses. now they sit and call me irresponsible. just five minutes ago, they were calling the irresponsible. i one of the most responsible people. these folks, these lawyers, that are running our government, are running us into the ground. they are manipulating us, oppressing us, committing treason as crimes against us, yet we have no voice to do anything about it. this all has to change, and they need to quit blaming main street for what they purposely have done, and i hope we can all come together and find a way through this before all of our families are destroyed. thank you, and god bless you all. host: 84 your call. welcome to c-span. caller: thank you for taking my call. .'m 67 years old recor i get $560, in disability, i have a master's in education, b
. this is about an hour. >> good morning. good to see you all. another day of fiscal cliff or fiscal curve, whatever one wants to term it. what we do know is the law is about to change, all the tax cuts from the bush era are about to expire. across the board spending cuts, some $1.2 trillion over the next ten years. so these are significant changes in law about to occur absent action by the congress and by the president. first of all, thank you, bob for that kind introduction. thanks for being so persist nt. i'm glad to have the chance now to come. in reflecting for my fair well address in the senate, i thought back to what motivated me to run for the united states senate. about 48 years ago i came to washington as a 16-year-old, sat in the gallery and watched a debate occur on civil rights. and i thought at the time some day i'd like to do that. i'd like to represent my state and i'd like to debate the great issues of the day. and after that trip i went home and i wrote on the back of an informal that i would run for the united states senate in 1986 or 1988 and i ran in 1986 and won what
business owners to call and and ask about the fiscal cliff. and we talked to the chief economist, lawrence yun. and discussions about the fiscal cliff negotiations as congress returns to washington. and later, a discussion on background checks, how they work, and when they are required. washington journal is live at 7:00 a.m. eastern on c-span. columnist in a news analyst talks about the relationship with religion and american politics. he was introduced by the former missouri senator and ambassador to the united nations and john danforth. from washington university, this is an hour-and-a-half. >> finally, it is my honor to introduce senator john danforth, who will introduce mr. will. the senator is a partner with the law firm. he graduated with honors from princeton university, where he majored in religion. he received a bachelor of divinity degree from yale divinity school and a bachelor of laws degree from yale law school. he practiced law for some years and began his political career in 1968 when he was elected attorney general of missouri in his first place for public office. missouri
: good morning. if you sell your house and get a profit, you don't pay taxes on it. on the fiscal cliff, how does that affect people that are selling? guest: the capital gains tax rate will be rising to 20%. there is an exemption. the first half million dollars will not qualify as additional capital gains. for most homeowners, if we have fiscal cliff, the selling of the home, there will not be a cowboy gains taxes associated with it. -- capital gains tax associated with it. that would fall under the exemption of half a million dollars for most families. host: we have a tweet from boringfileclerk. guest: enlarge tax increase and large number of middle class families and they will be hesitant to buy a home. host: are subprime loans still being marketed? guest: for a subsection of the population, perhaps it is -- say a young couple, one is a medical doctor and one is a lawyer, graduated with high debt. people can see to have high income potential. in mortgage that does not qualify as standard may be for this family. the subprime loan began to give out to anybody. anyone with a heartbeat. t
in and talk about the fiscal cliff and their plans for the next year. we will continue with the forecast of the coming years housing market with lawrence yun, followed by more discussion of the fiscal cliff negotiations as congress returns to washington. we are joined by steve forbes. later, a discussion on background checks, how they work, who gets them, and when they are required. our guest is matt denn it. washington journal live at 7:00 a.m. eastern on c-span. >> i just enjoy that it is straight forward, comprehensive, and you can really sense what is happening without a pundit interjecting, and that is what i really appreciate about c-span. it is definitely a great resource for anyone looking to become more familiar with how government works and the ins and outs of capitol hill. >> c-span, created by america's cable companies in 1979. brought to you as a public service by your television provider. >> now, state and defense department officials testified at a hearing on violence in the eastern congo. a rebel group of congolese army defectors has been terrorizing people. the congolese
. >> what are you hearing in regard to the fiscal cliff? >> mitch mcconnell has been in negotiations with vice president joe biden. we know they spoke at least twice over night. the last conversation we are aware of was about 6:45 this morning. we don't know the status of those talks. we don't know whether they are its senate offers back or fourth. leaders of both parties have said little this morning. senate majority agree -- leader harry reid came to the floor and did not have much of an update. if there is is going to be a deal today, it will be between mr. mcconnell and mr. biden. there is little in the way of ongoing conversation between mr. reed and mr. mcca mcconnell. >> what about the mechanics of any deal if there is an agreement at least in the senate -- how quickly can come to the floor and how likely is it we can see action on the house floor later today or tonight or tomorrow? >> it becomes tricky. we know what the allies of any deal would be. they have been bandied around for about two years. translating the outline of the deal in legislative language is difficult and t
Search Results 0 to 8 of about 9